Colombian port and terminal operator Compañía de Puertos Asociados (Compas) presented a project for the expansion of the Cartagena port terminal, during a public hearing at the national infrastructure agency ANI.

Proposed works include the extension of the existing quayside by 110m, the expansion and strengthening of the same, and the dredging of the access channel.

The project would require an investment of US$92mn, of which 40% would come from Compas and 60% from multilateral bank loans.

Investments of US$75mn would go into construction works and infrastructure improvements, while another US$16mn would be used to purchase top of the market equipment.

"This project places not only the region, the bay of Cartagena, but also Colombia at a very high level of competitiveness, since all investments to be made with the expansion include top of the line technology, and operating conditions that will give an important additional impetus to foreign trade," said Compas' president Alberto Jimenez Rojas.

With the expansion project, the port's installed capacity would increase more than 18% and enable transit of vessels with up to 3.72Mt compared to 2.82Mt currently.

Compas will now wait for a response from ANI on the proposed plan. If positive, the project will move to an environmental evaluation which is estimated to last four months.